New York Community Bancorp (NYSE:NYCB) Upgraded to Buy by B. Riley

B. Riley upgraded shares of New York Community Bancorp (NYSE:NYCB) from a neutral rating to a buy rating in a research note released on Thursday, BenzingaRatingsTable reports. They currently have $12.00 target price on the financial services provider’s stock.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. TheStreet upgraded SUMMIT THERAPEU/S from a d rating to a c- rating in a report on Thursday, June 13th. Finally, Jefferies Financial Group upped their target price on Las Vegas Sands from $57.00 to $69.00 and gave the stock a hold rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $12.28.

Shares of NYSE NYCB opened at $10.52 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.37 and a beta of 0.98. The company has a 50 day moving average price of $9.99. New York Community Bancorp has a 52-week low of $8.61 and a 52-week high of $12.72.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $266.11 million during the quarter, compared to analyst estimates of $268.24 million. New York Community Bancorp had a return on equity of 6.65% and a net margin of 22.65%. New York Community Bancorp’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. Equities research analysts anticipate that New York Community Bancorp will post 0.77 earnings per share for the current year.

In related news, Director Hanif Dahya bought 1,640 shares of the stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $26.31 per share, for a total transaction of $43,148.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.31% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in New York Community Bancorp by 155.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,130 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 37,804 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of New York Community Bancorp by 16.2% during the 4th quarter. Commonwealth Bank of Australia now owns 111,060 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 15,500 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of New York Community Bancorp by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,340,979 shares of the financial services provider’s stock worth $97,303,000 after acquiring an additional 292,953 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of New York Community Bancorp by 2.0% during the 4th quarter. Brown Advisory Inc. now owns 148,035 shares of the financial services provider’s stock worth $1,393,000 after acquiring an additional 2,875 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of New York Community Bancorp by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,174,238 shares of the financial services provider’s stock worth $48,816,000 after acquiring an additional 382,396 shares in the last quarter. Hedge funds and other institutional investors own 63.04% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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